JIM Breyer: Nuclear Winter of Crypto is Coming

The famous American venture capitalist Jim Breyer never ceases to pin hopes on the blockchain industry business. At the 2018 Global Tech Forum event in Guangzhou, he said that he was “very interested” with this technology, but he came up with a less encouraging statement for cryptocurrency investors.

“We are close to a nuclear winter right now with cryptocurrency,” said Breyer, an investor in Circle, Ethereum, VeChain and High Fidelity.

As noted by Fortune, “AI-winters” are common and are characterized by a periodic decline in interest in the technology of artificial intelligence, for which there is some documented evidence. In the early 2000’s, amid the collapse of the dot-com bubble, venture investors sought to avoid Internet companies, which, however, did not stop Breyer from investing in Facebook in 2005.

However, Breyer's bet on blockchain is driven not only by his experience in investing in tech companies in the past, but also by meeting with students, entrepreneurs, and developers.

“So many of the very best computer scientists and deep learning PhD students and post-docs are working on blockchain because they have so much fundamental interest in what blockchain can mean,” said Breuer.

“You don’t want to bet against the best and brightest in the world,” he added.

In addition to the above projects, Breyer Capital in August of 2018 invested in Radar Relay, a startup developing a decentralized token exchange.

Brayers confidence in the blockchain’s future success is confirmed by the daily announcements of new large companies that make deals in this area. As an example, just yesterday Google Cloud partnered with Hydrogen blockchain startup. Collaboration suggests that Hydrogen customers will have access to the Google Cloud startups development program. Under this program, startups receive financial, social and educational assistance for more successful development at an early stage.

By registering to participate in the Google Cloud program through Hydrogen startups will be able to choose an advanced package of services - the Spark Package, involves a yearly loan of $20,000. There will also be an advantage in the form of a subscription to the set of special solutions for the G Suite business and to Hire by Google recruitment service.

The Hydrogen project has its own Hydro blockchain, which supports the HYDRO token, smart contracts, a store of decentralized applications, libraries, and an API (application programming interface). The key solution to the platform is Hydrogen Atom, which allows you to quickly develop financial applications using modular APIs.

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